Canada’s Oil Patch On Track For Biggest M&A Wave In A Decade

Nearly a decade ago, the Canadian Oil Patch recorded a major asset sale and consolidation wave as oil majors exited the oil sands in favor of higher margins in U. S. shale oil as well as environmental concerns amid the ESG investing craze.

To wit, Shell Plc (NYSE:SHEL) sold the majority of its oil sands interests to Canadian Natural Resources Ltd. (NYSE:CNQ) in 2017 a transaction valued at roughly $11. 1 billion CAD ($8.